New York – March 17, 2015 – SK Capital Partners, a private investment firm focused on the specialty materials and chemicals sector, today announced the hiring of John Steitz. With over thirty years of specialty chemicals experience in polymer additives, fine chemicals and catalysts, Mr. Steitz further expands SK Capital’s team of highly experienced chemical industry executives. Mr. Steitz has been appointed Chief Executive Officer of Addivant, a leading global supplier of antioxidants, intermediates, inhibitors, modifiers, UV stabilizers and other additives to the plastic and rubber industries.
Barry Siadat, Managing Director of SK Capital, commented, “We are thrilled to add another talented and seasoned chemical industry executive to our team. John will add significant value to the SK Capital portfolio and, as CEO of Addivant, will expedite and enhance the existing growth initiatives while leading its continued transformation into the premier global supplier of additives to the plastic and rubber industries.”
Jamshid Keynejad, Managing Director of SK Capital, added, “John brings the integrative leadership skills and knowledge to connect Addivant’s customers, employees and other key stakeholders. We look forward to partnering with John to realize the company’s strategic and operational objectives.”
In his most recent role, Mr. Steitz was the Chief Operating Officer of PQ Corporation, a privately held producer of specialty inorganic performance chemicals and catalysts. He previously served as President and Chief Operating Officer of Albemarle Corp. and as President and CEO of Avantor Performance Materials.
Mr. Steitz added, “I’m excited to become a member of the SK team and to lead Addivant’s continued growth and development. Addivant is an attractive platform with a rich heritage, world class technology portfolio and blue chip customer base.”
Mr. Steitz will work closely with Peter Smith, who will assume the role of President, Commercial Operations, a newly-created position that enhances Addivant’s ability to create value for its customers through increased focus and closer alignment. Mr. Smith will have oversight over the global sales team as well as lead the commercialization of Weston 705, Addivant’s next generation nonylphenol-free, phosphite antioxidant.
Addivant™ is a leading global supplier of antioxidants, intermediates, inhibitors, modifiers, UV stabilizers and other additives to the plastic and rubber industries. Providing products and services in more than 100 countries and maintaining global manufacturing and research facilities, Addivant is committed to the highest standards of excellence in product quality, productivity and customer satisfaction. More information can be found at www.addivant.com.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. Our integrated, multi-disciplinary team utilizes its industry, operating and investment experience to help transform businesses into higher performing organizations. Located in New York, NY and Boca Raton, FL, the firm has over $1.5 billion in third party capital under management. Our portfolio companies generate revenues of over $8.0 billion annually and employ approximately 9,000 people. More information can be found at www.skcapitalpartners.com.
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